The Addis Ababa Action Agenda (AAAA) recognizes that significant additional domestic public resources, supplemented by international assistance as appropriate, will be critical to realizing sustainable development and achieving the SDGs and calls inter alia for efforts to integrate the informal sector into the formal economy in line with country circumstances. The AAAA also addresses the issue of lack of financial services for many people, especially women, and pledges to encourage commercial banking systems to serve all, including those currently facing barriers to access financial services and information.

Over two billion adults worldwide do not have access to a bank account and over 60 % of these are women, the majority of whom live in rural areas. Yet, many rural women do have access to informal savings and credit via informal community groups. In particular, Savings Groups, are estimated to reach nearly 14 million members across 75 countries with total assets between $430 million and $1.2 billion.

Digital innovation has accelerated financial inclusion and revolutionized the way financial services are provided by reducing the cost of outreach to excluded and poor communities and households and by linking informal savings groups to the formal financial sector.

The aim of this event is to:

1. Share lessons on how women’s savings groups are being linked to formal financial services, resulting in increased domestic resource mobilization, transforming women’s lives and contributing to achievement of the SDGs.
2. Discuss opportunities to scale up these last mile financial inclusion models. Share research on outcomes of linkages on savings group members and their communities in order to inform policies design for last mile financial inclusion.